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Consolidated Statements Of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES    
Net income $ 7,556,000 $ 6,371,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales (7,099,000) (59,000)
Impairment charges 9,850,000  
Straight-line rents (496,000) 230,000
Provision for doubtful accounts 762,000 631,000
Depreciation and amortization 20,371,000 20,633,000
Amortization of intangible lease liabilities, net (1,275,000) (1,410,000)
Expense relating to share-based compensation, net 1,833,000 1,340,000
Amortization (including accelerated write-off) of deferred financing costs 715,000 791,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Rents and other receivables (1,466,000) (829,000)
Prepaid expenses and other 270,000 878,000
Accounts payable and accrued liabilities (696,000) (994,000)
Net cash provided by operating activities 30,325,000 27,582,000
INVESTING ACTIVITIES    
Acquisitions of real estate (28,836,000) (31,928,000)
Expenditures for real estate improvements (9,037,000) (4,480,000)
Net proceeds from sales of real estate 10,372,000 14,494,000
Construction escrows and other 177,000 1,883,000
Net cash (used in) investing activities (27,324,000) (20,031,000)
FINANCING ACTIVITIES    
Repayments under revolving credit facility (25,500,000) (62,000,000)
Advances under revolving credit facility 40,000,000 76,000,000
Mortgage borrowing   50,000,000
Mortgage repayments (1,663,000) (53,864,000)
Payments of debt financing costs   (1,366,000)
Noncontrolling interests:    
Distributions to limited partners (36,000) (35,000)
Common stock sales less issuance expenses, net 7,000 11,000
Preferred stock dividends (7,204,000) (7,204,000)
Distributions to common shareholders (8,550,000) (8,516,000)
Net cash (used in) financing activities (2,946,000) (6,974,000)
Net increase in cash and cash equivalents 55,000 577,000
Cash and cash equivalents at beginning of period 2,882,000 2,083,000
Cash and cash equivalents at end of period $ 2,937,000 $ 2,660,000